Capital One Bank Introduces Capital One Multifamily Finance, Combining Balance Sheet and Agency Lending Capabilities

Rick Lyon

 New York, NY – Capital One Bank has introduced Capital One Multifamily Finance, a commercial real estate organization that combines Capital One’s balance sheet and agency lending groups into a single entity.

 The announcement marks the next stage in Capital One’s integration of Beech Street Capital, the agency originator and servicer acquired by Capital One in November 2013. 

 “These teams are already working closely together to offer our clients the best of both organizations,” said Rick Lyon, Head of Commercial Real Estate Banking, Capital One.

 “Bringing them under a single banner enhances our ability to serve clients more efficiently, while signaling to the marketplace that we intend to become an even greater force in the multifamily business.”

 For a complete copy of the company’s news release, please contact:

Courtney Lewis at 240-507-1948 or

 Jenifer Bernardi at 240-507-1946.

www.capitalonemultifamily.com.

FrontDoor Communities Plans Largest Residential Infill Development in Historic Downtown Roswell, GA

ATLANTA, GA (June 3, 2014) – FrontDoor Communities continues to grow its presence in Georgia with plans for a second development in the flourishing city of Roswell.

Goulding, the largest residential infill development in Historic Downtown Roswell, will consist of 27 townhomes, 13 single-family homes and a remodel of an existing historic home on the property.

Located just blocks from the popular Canton Street shopping and dining district, Goulding will be part of the Roswell Historic District. 

In addition to its high walkability score, the development will have a central park with benches, patios and landscape features to connect residents with their neighbors.

“As a Roswell resident myself, I’m proud to bring FrontDoor’s quality design to the area,” said Eric White, division vice president of FrontDoor. “Our architects have put a lot of thought into each and every detail of these homes to reflect Roswell’s rich historical elements. No two homes in the community will be the same.”

Single-family homes in Goulding will start in the mid $800,000s and feature three stories, master bedrooms on the main floor, two to three additional bedrooms and elevator options.

Terry Russell

There are two floor plans for townhomes, starting in the mid $600,000s to low $700,000s and featuring many of the same design elements. 

FrontDoor will also remodel a 19th-century home on the land once owned by the Goulding family, the namesake of the community.

“We worked closely with the Roswell Historic Preservation Commission to compose streetscapes that represent the best in historic Roswell architecture,” added Terry Russell, FrontDoor CEO.

Home construction will begin in spring 2015 and is expected to be complete by mid-year. With the addition of Goulding, FrontDoor now has four communities in Georgia.

For a complete copy of the company’s news release, please contact:

M.C. Rhodes •The Wilbert Group

1720 Peachtree St., Suite 350 • Atlanta, Ga. 30309

O: 404-343-0274  • M: 678-983-5867

thewilbertgroup.com

http://www.frontdoorcommunities.com/

ValueRock Realty Partners Adds To Investment and Development Team with Key Hires

  

Dennis Vaccaro

IRVINE, CA - ValueRock Realty Partners, a vertically-integrated real estate investment and operating company, is growing its investment and development leadership.

The firm has added Dennis Vaccaro as senior vice president, investments; Patrick Cox as managing director and chief development officer; and Chad Owens as vice president of finance operations.

Dennis Vaccaro leads development of the investment strategy and acquisitions and dispositions for the investment division of ValueRock Realty Partners.

 He brings more than 20 years of hands-on experience in retail and mixed-use commercial property investment, and has completed in excess of $3 billion in transactions over the span of his career. 

Vaccaro has spent the majority of his career providing high-level advisory expertise in acquisitions and dispositions that cover a broad range of retail categories including anchored, non-anchored retail, mixed-use, single-tenant retail, sale leasebacks, and retail portfolio assets located across the nation.

Chad Owens

Patrick Cox is responsible for value-add strategy, leasing and construction of development and redevelopment opportunities as well as redevelopment of existing shopping center properties within the firm’s extensive portfolio, building on his background. 

Before joining ValueRock, Cox served as senior vice president and partner of commercial development for a division of Steadfast Companies where he managed all facets of the firm’s commercial real estate portfolio. 

Throughout his 15-year tenure at the firm, he was an integral part of building the commercial platform amassing in excess of five million square feet of commercial real estate throughout the Western US, including ownership/operation of a retail collection of assets consisting of regional malls, power centers and community shopping centers.

Chad Owens now leads the firm’s due diligence process on all transactions as well as financing activities for both property acquisitions and refinances.

Patrick Cox

 Owens also plays a key role in the development of investment strategies, and oversees all property underwriting responsibilities. He brings more than 15 years of commercial real estate experience in acquisitions, dispositions, development, and refinancing with experience in a variety of commercial real estate asset classes, including retail, multifamily, hospitality, and master planned developments.

 Previously he served as vice president of operations with a market leading retail advisory and brokerage services firm and as a finance manager for a privately held multifamily investment and management company.

“I am excited about the opportunity to join ValueRock and its senior leadership. The firm is comprised of a strong bench of highly-experienced real estate professionals with a uniquely significant focus on its culture and values. I look forward to bringing my experience to the team and helping ValueRock continue to grow,” said Vaccaro.

“We are building key areas of our firm, especially our investment division. Dennis, Patrick and Chad will be important drivers in building our portfolio and ensuring that our value add and core focus is enhanced,” noted David Lee, chairman and CEO, ValueRock Realty Partners. “These individuals all exemplify the foundation of ValueRock which is built on strength of integrity and expertise.”

 For a complete copy of the company’s news release, please contact:

Darcie Giacchetto

Spaulding Thompson & Associates

949.278.6224

RECI Reports Retail and Industrial Assets Back on Investors’ Favored List

Jeanne Peck

Chicago, IL - Ongoing mortgage spread compression, lower treasury yields and less restrictive underwriting are today's headlines.

Investors are constantly surprised about the downward movements in mortgage and capitalization rates.  Many fear of being 'too late' to the investment party, but have no choice but to accept skinnier returns given the

insatiable appetite for investing in various types of commercial real estate ventures.

 Mirroring this trend, key real estate capital market discussion points relating to very low starting yields are as follows:

Commercial properties, namely retail and industrial assets are clearly back on the favored list with most lenders, as funding sources offer tighter spreads and pricing comparable with the most favored property type

(multifamily).  

The lower range for mortgage rates on conservatively

leveraged assets is only represents about a 10-basis-point variance between different properties types (except for hotel and special-purpose assets).

Long-term (10 year) mortgage rates start below 4% for such type of fundings.

New construction is in demand most types of urban infill properties

including multifamily, mixed-use and retail developments. Return-on-cost

benchmark development yields for such projects start as low as 6.5% in most

markets, but can even be 50 to 100 basis points lower in gateway coastal

markets.

Insatiable demand for credit-tenant, net leased properties generates

capitalization rates starting in the higher-4% range, particularly for

ground lease deals.  Credit tenants are more selective on locations,

creating a new construction shortage, while tax exchange investors drive the

demand side of the market in direct competition with institutional sources.

The Real Estate Capital Institute's director, Jeanne Peck suggests,

"Borrowers are having a field day with competitive financing choices,

including structured debt and equity transactions.

She adds, "in fact, the biggest competition for the capital stack is within the capital stack as

existing lenders and equity investors are willing to contribute more dollars

into high quality assets, pushing out mezzanine, Pref equity and other types

of hybrid debt vehicles from the financial equation."

For a complete copy of the company’s news release, please contact:

Jeanne Peck, Executive Director

  director@reci.com / 

www.reci.com

Kiser Group Retained to Sell Four Apartment Properties and Three Mixed-Use Buildings in Northwest Suburbs and Chicago

  

CHICAGO, IL (June 3, 2014) – Kiser Group, Chicago’s leading mid-market commercial real estate brokerage firm, has been retained for six new Chicago-area listings, one of which includes a two-property portfolio.

In the Northwest Suburbs, one listing is an apartment portfolio consisting of a 62-unit complex in Palatine and a 40-unit complex in Harvard; the other listing is a 13-unit mixed-use building in downtown Arlington Heights. 

In Chicago, listings include a 69-unit apartment building in South Shore; a 13-unit mixed-use building Ravenswood Manor; a 20-unit apartment building in Chatham; and a 14-unit corner apartment building in Auburn Gresham.

  For a complete copy of the company’s news release, please contact:

Mark Thomton, mthomton@taylorjohnson.com, 312-267-4523

Lone Oak Fund Provides Financing for Three Hotel Properties in California

Alexa Mizrahi

LOS ANGELES, CA – Lone Oak Fund, LLC, a private lender specializing in short term loans on commercial and residential properties, has provided financing for the acquisition and refinance of three separate hotels totaling 140 rooms in California.

“Private money lending activity is beginning to soar in the hospitality industry,” says Alexa Mizrahi of Lone Oak Fund.  “Hotel owners and investors are seeking alternative finance solutions that can deliver the flexibility and speed they need to acquire and reposition hotel properties.”

Lone Oak, a mortgage fund with more than 700 high net worth members, notes that these solutions may include lender partnerships that help to increase leverage, or short-term loans that can more easily transition to conventional financing.

 “By working together, we were able to provide the borrower with leverage totaling 80 percent of the acquisition cost, while keeping the blended rate extremely competitive, below ten percent,” says Mizrahi.

All three loans closed concurrently in less than two weeks, according to Lone Oak Fund.

 For a complete copy of the company’s news release, please contact:

Jenn Quader or Amanda Alenick

Brower, Miller & Cole

JQuader@browermillercole.com

(949) 955-7940

www.loneoakfund.com